NexPoint Residential Trust, Inc.
For the period ended Apr 29, 2025. Filed Apr 29, 2025.
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A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
Apr 29, 2025 · Filed Apr 29, 2025
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Contents
EX-99.1 · FFO, Core FFO and AFFO
FFO, Core FFO and AFFO
The following table reconciles our calculations of FFO, Core FFO and AFFO to net income (loss), the most directly comparable GAAP financial measure, for the three months ended March 31, 2025 and 2024 (in thousands, except per share amounts):
| For the Three Months Ended March 31, | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2025 · 2024 · % Change | |||||||||
| Net income (loss) | $(6,924) | $26,402 | N/M | ||||||
| Depreciation and amortization | 24,350 | 24,323 | 0.1% | ||||||
| Gain on sales of real estate | (1) | — | (31,709) | N/M | |||||
| Adjustment for noncontrolling interests | (69) | (75) | -8.0% | ||||||
| FFO attributable to common stockholders | 17,357 | 18,941 | -8.4% | ||||||
| FFO per share - basic | $0.68 | $0.74 | -7.4% | ||||||
| FFO per share - diluted | $0.68 | $0.72 | -5.6% | ||||||
| Loss on extinguishment of debt and modification costs | — | 546 | N/M | ||||||
| Casualty-related expenses/(recoveries) | (656) | 33 | N/M | ||||||
| Casualty losses (gains) | 163 | (199) | N/M | ||||||
| Amortization of deferred financing costs | 1,644 | 717 | N/M | ||||||
| Mark-to-market adjustments of interest rate caps | 591 | (626) | N/M | ||||||
| Adjustment for noncontrolling interests | (7) | 2 | N/M | ||||||
| Core FFO attributable to common stockholders | 19,092 | 19,414 | -1.7% | ||||||
| Core FFO per share - basic | $0.75 | $0.75 | -0.6% | ||||||
| Core FFO per share - diluted | $0.75 | $0.74 | 1.3% | ||||||
| Equity-based compensation expense | 2,475 | 2,547 | -2.8% | ||||||
| Adjustment for noncontrolling interests | (10) | (9) | 11.1% | ||||||
| AFFO attributable to common stockholders | 21,557 | 21,952 | -1.8% | ||||||
| AFFO per share - basic | $0.85 | $0.85 | -0.7% | ||||||
| AFFO per share - diluted | $0.84 | $0.83 | 1.2% | ||||||
| Weighted average common shares outstanding - basic | 25,448 | 25,721 | -1.1% | ||||||
| Weighted average common shares outstanding - diluted | (2) | 25,576 | 26,354 | -3.0% | |||||
| Dividends declared per common share | $0.51 | $0.46 | 10.3% | ||||||
| Net income (loss) Coverage - diluted | (3) | -0.53x | 2.16x | N/M | |||||
| FFO Coverage - diluted | (3) | 1.33x | 1.55x | -14.4% | |||||
| Core FFO Coverage - diluted | (3) | 1.46x | 1.59x | -8.1% | |||||
| AFFO Coverage - diluted | (3) | 1.65x | 1.80x | -8.3% | |||||
(1)
$31.7 million with a related party for the three months ended March 31, 2024.
(2)
The Company uses the diluted weighted average common shares outstanding when in a dilutive position for FFO, Core FFO and AFFO.
(3)
Indicates coverage ratio of net income (loss)/FFO/Core FFO/AFFO per common share (diluted) over dividends declared per common share during the period.
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